Needham & Company LLC restated their buy rating on shares of Biogen (NASDAQ:BIIB – Free Report) in a research note released on Friday morning, Benzinga reports. They currently have a $294.00 price target on the biotechnology company’s stock.
BIIB has been the topic of a number of other reports. Bank of America lowered their target price on shares of Biogen from $280.00 to $260.00 and set a neutral rating on the stock in a research note on Friday, April 12th. William Blair reissued an outperform rating on shares of Biogen in a research report on Wednesday, July 3rd. Truist Financial restated a buy rating and set a $340.00 target price on shares of Biogen in a research note on Thursday, May 16th. Barclays dropped their price target on Biogen from $215.00 to $200.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. Finally, HC Wainwright reissued a buy rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $283.26.
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Biogen Stock Up 1.5 %
Hedge Funds Weigh In On Biogen
Institutional investors have recently modified their holdings of the stock. Leo Wealth LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $2,265,000. ICICI Prudential Asset Management Co Ltd boosted its position in Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after buying an additional 4,693 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after buying an additional 1,050 shares during the period. Duality Advisers LP bought a new stake in shares of Biogen during the first quarter worth $1,290,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Biogen by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after acquiring an additional 3,380 shares during the period. 87.93% of the stock is owned by institutional investors.
About Biogen
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.
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